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3 1/2 months behind..help!!

Discussion in 'CitiMortgage' started by jas77, Oct 19, 2010.

  1. jas77

    jas77 LoanSafe Member

    Hi everyone,
    Found this wonderful forum while trying to find some answers on what to do next with my mortgage. Currently we are 3 1/2 months behind on the mortgage. Ive been reading on loan modifications and forbearances, etc. and wanted to get an idea on how to proceed when I call Citi. I should have been talking with them months ago, but I was just banking on getting some money that I could use to make the payments current, but alas, that didnt happen, so here I am, in dire straights.
    So, basically, when I call them, what is the best option for me to pursue? I was reading about forbearances, but if they put a large balloon payment at the end of it, I wont be able to pay it. If I am this late on the mortgage is a modification still an option? ( I can make a new payment in about 6 days for one month). My wife lost her job last year and had been receiving unemployment, so we had a decrease in our gross pay, this is how we got so far behind. Im just hoping citi will work with us since we are so late!
    This has been so stressful, and Im hoping they can help us out a bit!!

    also, wanted to add its an FHA loan, so not sure if this makes a difference or not!

    Thanks soooo much for any advice!
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Welcome and thanks for joining.

    No it is not to late to apply for a loan modification. In fact, it is never too late to apply for assistance until the property has gone to foreclosure. I would not be worried about making a payment now because they are not going to accept a payment unless you can come up with the entire amount past due (along with late fees).

    Are both you and your wife currently collecting unemployment?
  3. jas77

    jas77 LoanSafe Member

    Thanks for the reply evan. No, only my wife is collecting unemployment. She is working part time but her pay is still way below what she was making. If I call them and they will take a payment should i? Or will they accept a payment regardless? I guess what I mean is will they tell me I can't make a payment?
  4. CMI2010

    CMI2010 LoanSafe Member

    I guess if you want to make a payment, the bank or lender will take your money. However, since your family income has been reduced for some reasons, I will recommend to ask if you can qualify for loan modification. As Evan said, it is not late.

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